UNIT: New Gold-Backed currency has been launched by BRICS

Cosmos

Cosmos

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What has been rumored for quite a while has just been launched. UNIT, the new currency of BRICS, for now only at the test phase though and not live yet. It might not sound like a big deal but IMO it could fundamentally change how the world works. If I understood correctly it is at least 40 percent backed by physical gold and the rest is the existing local fiat currencies.

I‘m trying to get my head around it but is sounds pretty interesting and unique. I don’t quite understand it as of yet though. Currently 1 UNIT seems to equate to about 1 gram of pure gold .

Here is the official website:

UNIT Ecosystem Reserve Basket

UNIT ecosystem offers people around the world apolitical money that can be freely bought and sold or used as currency for payments via any open payment and clearing system
unitfoundation.org unitfoundation.org

Here is the whitepaper explaining how it works:


Here a light paper:


Here is a guy trying to explain it:

 
Of note is that this new token/currency is mainly/primarily for settling trade between BRICS countries (for now, which will/must change by necessity, aka that others outside of it have to use it too at some point?).

Secondly, it was already launched in Oktober of this year. Given the magnitude of this, it is certainly quite strange that it has received almost no coverage in the west and not even in alternative news.

It remains to be seen when it will go live but I would guess that it will/must happen no matter what the west says or is doing? When I don’t know.

After it has gone live it is probably only a matter of time until it naturally replaces most if not all dollar from trade between those countries and also by necessity attracts/forces others outside of BRICS to use it?
 
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